Top remodeling projects optimize a home’s space, but siding replacement tops them all

Posted by DB Wilson on Tuesday, June 5th, 2012 at 3:07pm.

Optimization of a home’s space, giving buyers more for their money, is what’s driving most of today’s top remodeling projects, according to Remodeling magazine’s “2011–12 Cost vs. Value Report,” conducted in cooperation with REALTOR® Magazine and NAR’s HouseLogic.com.


The report looks at the estimated cost and expected resale return of 35 midrange and upscale remodeling projects in 80 markets, surveying more than 3,000 REALTORS® last summer on costs and returns.


Those surveyed picked exterior projects to recoup the most at resale. For instance, new fiber-cement siding was expected to provide the highest return, recouping an estimated 78 percent of the $13,461 cost, according to Remodeling magazine.


However, it was interior projects that make the most of space that filled out the top of the list. According to those surveyed, homeowners spending $50,148 on an attic bedroom could expect to recoup 72.5 percent of the cost nationally — a slight increase of 0.3 percent from the 2010-11 report. The minor kitchen remodel will result in an estimated 72.1 percent return of the nearly $20,000 job cost.


Here’s a look at the top six remodeling projects providing the best return on investment for 2011-12:

Siding replacement (upscale) - fiber-cement     
Job Cost: $13,461
Resale Value: $10,493
Cost Recouped: 78%


Entry door replacement - steel    
Job Cost: $1,238
Resale Value: $903
Cost Recouped: 73%


Attic bedroom addition             
Job Cost: $50,148
Resale Value: $36,346
Cost Recouped: 72.5%


Minor kitchen remodel             
Job Cost: $19,588
Resale Value: $14,120
Cost Recouped: 72.1%


Garage door replacement             
Job Cost: $1,512
Resale Value: $1,087
Cost Recouped: 71.9%


Garage door replacement (upscale)               
Job Cost: $2,994
Resale Value: $2,129
Cost Recouped: 71.1%


Visit www.costvsvalue.com for information on all 35 projects.

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